10 UK Export News You Might’ve Missed - Week 38

In this edition of Export News from Expordite, we’ll cover the top 10 UK export news and headlines from week 38 of 2024 — September 16th-22nd, 2024.

Key News

• UK signs trade pact with Thailand to boost exports
• Brexit deal impact in UK is worsening, warn economists
• UK food and beverage exports sink in first half of 2024

General Export News

1. British Chamber of Commerce opens office in Uganda to promote trade & investment

“The British Chamber of Commerce, which is currently operational in a number of other African countries, will be a catalyst for business success by providing a range of business support and trade promotion services. From networking opportunities, business advocacy, educational seminars and exclusive members benefits, the Chamber is dedicated to helping UK businesses in Uganda of all sizes to prosper.

The Chamber of Commerce’s main objective is to promote better trade links between the UK and Uganda and increase trade and investment. The UK private sector is a major investor in Uganda’s development and has the knowledge, experience to help drive Uganda’s economic growth. The UK always strives to be at the forefront of delivering quality products and services, shaping policy, and providing technology advancement, especially in the climate, energy, agriculture, infrastructure, healthcare sectors.”

Source: GOV.uk

2. UK ministers visit Gulf to boost trade and investment

“UK Ministers are in the Gulf this week on a joint visit to boost trade and investment, one month out from the International Investment Summit.

Trade Secretary Jonathan Reynolds and Trade Policy Minister Douglas Alexander will meet counterparts in the Gulf Cooperation Council (GCC) today [Mon 16 September] in Riyadh to discuss how to grow the UK economy by boosting trade with the region.

Government announced in July it plans to deliver a high-quality trade deal with the bloc, along with other countries including India, Switzerland and South Korea.

A GCC trade deal could boost the UK economy by £1.6 billion in the long run, while allowing UK companies to take advantage of this booming market and giving British consumers access to more high-quality goods and services. Ministers will emphasise to GCC leaders that securing the deal is a top priority for the UK. “

Source: GOV.uk

3. UK Export Finance helps NI recycling firm meet demand from Saudi market

“A recycling business from County Tyrone has secured multi-million pound contracts to export recycling machinery to Saudi Arabia with the support of UK government department UK Export Finance.

Kiverco is a family-owned business which designs and delivers recycling plants that process, separate and recover waste in a range of sectors. Its UK-designed technology helps clients deal more sustainably with construction waste, dry mixed recyclables, municipal solid waste and much more.

A £350k export insurance package from UK Export Finance means that they can now deliver major new contracts in Saudi Arabia, boosting revenue and supporting 100 local jobs. “

Source: GOV.uk

4. UK signs trade pact with Thailand to boost exports

“The UK and Thailand will today [18 September] put pen to paper on an Enhanced Trade Partnership to boost trade and investment between the two countries.

Trade Minister Douglas Alexander will sign the pact alongside Thai Commerce Minister Pichai Naripthaphan in Bangkok this morning as part of his first visit to Asia since being appointed in July.

The new partnership signed today is designed to help the Government achieve its driving mission to grow the economy by boosting sales and investment in priority sectors such as automotive, tourism, investment, digital trade, financial services, education, and many more. The pact also commits both sides to identifying opportunities that could be delivered through a potential future UK-Thailand Free Trade Agreement.

The UK and Thailand also recently also made it much simpler for Thai companies to import UK food and drink — from chocolate and cheese to soft drinks and frozen foods. They can now submit conformity documentation by email instead of the time-consuming process of getting paperwork physically stamped by the British Embassy. Removing this barrier will be worth around £40m-£70m to UK businesses over five years.”

Source: GOV.uk

5. Brexit deal impact in UK is worsening, warn economists

“Brexit red tape on British businesses has caused goods trade between the UK and EU to slump and the problem is getting worse, a study has warned.

Many smaller UK producers have given up exporting small amounts to the EU after facing more rules and regulations, a report by Aston University Business School has found.

Between 2021 and 2023, the study calculated that UK goods exports to the EU were down 27% and imported goods were 32% lower than where they would have been had Brexit not happened.”

Source: BBC News

6. UK food and beverage exports sink in first half of 2024

“Food and beverage exports from the UK have dropped in the opening half of 2024 despite a jump in several products’ value sales.

Exports sank 6.1% in value compared to the first half of 2023, reaching £11.2bn ($14.9bn), according to a trade report from the Food and Drink Federation (FDF).

Exports to the EU dipped 4.3% to £6.7bn, with volumes dropping by 23.6%. Meanwhile, non-EU exports fell 8.5% to £4.5bn.

However, several foods saw export values and volumes rise in the first six months of the year. The sales of salmon grew 36.1% in value to £480.6m.

Similarly, soft drinks rose 8.2% in value exports to £325.1m. The FDF said that Malaysia offers “significant new export opportunities, with tariffs on products like chocolate and soft drinks to be liberalised once Malaysia ratifies”.”

Source: Just Food

7. EU snubs UK food as volume exports slump — hard

“Europeans are turning their noses up at booze, food and soft drinks from the UK, whose exports to the EU have bombed, the latest figures reveal.”

Source: Food Navigator

8. The Week in Trade: EC commissioners picks revealed, a UK-Thai trade partnership and new export licencing system goes live

“A week of political announcements and system shake-ups began with the new European commissioners picks — including the trade portfolio — being unveiled and the UK’s export licencing LITE going live for traders.”

Source: The Chartered Institute of Export & International Trade

9. Logistics UK welcomes postponement of fresh produce border checks

“The UK government has delayed the introduction of border checks on produce brought into the country from the European Union (EU) for a third time.

The Department for Environment, Food and Rural Affairs (Defra) said yesterday that it had extended the easement of import checks on medium-risk fruit and vegetables imported from the EU from January 2025 to July 1 2025.

Defra said the easement is a temporary measure to ensure that new ministers have a full and thorough opportunity to review the planned implementation of further border controls, and an opportunity to listen to businesses across import supply chains.”

Source: Air Cargo News

10. Brexit: UK exports declining and expected to get worse

“A report by Aston University Business School found that many smaller UK producers have stopped exporting small amounts to the EU due to the introduction of more rules and regulations.

The study showed that between 2021 and 2023 UK goods exports to the EU fell 27% and imported goods by 32% in comparison to predictions without Brexit happening.

A variety of trade export goods have slumped as well with 1645 fewer types of British products exported to every EU country.

Researchers who conducted the report said one of the main reasons why smaller British producers have given up on exporting small consignments to some EU nations is because of the increase in red tape after the UK left the European Union.”

Source: The National